Stifel analyst Derek Archila reiterates a Buy rating on Principia Biopharma saying the company reported a positive update from its Phase 1/2 study for PRN1008 in immune thrombocytopenia. The data were largely consistent with the preliminary results announced in October, with several new updates suggesting PRN1008's profile will be quite competitive to current ITP therapies from both an efficacy and safety perspective, Archila tells investors in a research note. The analyst, who admits the data in ITP are still early, sees further upside in shares of Principia as the company nears key stock moving catalysts, such as additional results from its Phase 2 extension study in pemphigus vulgaris which are expected by the end of the year. Archila remains a buyer of the shares.